Tax Tip #1 / How to Deduct Wealth Management Fees?

How much are your wealth management fees – and how can you deduct them in your Swiss tax return?

Have you ever wondered how high your wealth management costs really are – and whether you can claim them in your tax return?
In this article, you’ll learn which expenses are deductible in Switzerland, how cantonal differences apply, and what FIN, as your independent financial partner, values most.

Can you deduct wealth management fees in your Swiss tax return?

Yes. In Switzerland, certain expenses related to the management of your private assets can be deducted from your taxable income.
These include custody fees, management charges, investment advisory fees, and even negative interest on bank deposits.
Such costs are generally deductible because they serve to preserve and increase your wealth.

Helpful tip:
Most Swiss banks provide a standardized tax statement (Steuerauszug or Steuerrapport).
This document lists all deductible management costs, withholding taxes, and investment income such as interest or dividends that can be reclaimed.

For an accurate and efficient declaration, your bank’s tax statement is essential — and saves you considerable time when completing your return.

Swiss Wealth Tax Calculator

With the FIN Tax Calculator, you can compare your wealth tax and more across Swiss cantons.

Cantonal differences in wealth tax

Yes, there are differences. The rules and flat-rate deductions for asset management costs vary between cantons — sometimes significantly.

Here’s a summary of current cantonal guidelines:

Canton	Deduction Type	Rate / Limit
Zurich	Flat deduction	3‰ of the taxable value of third-party managed securities, up to CHF 6,000
Thurgau	Flat deduction	2‰, up to CHF 6,000
Zug	Flat deduction	3‰, up to CHF 9,000
Schwyz	Flat deduction	3‰, up to CHF 6,000
St. Gallen	Flat deduction	2‰, up to CHF 6,000; higher actual costs may be proven
Basel-Stadt	Actual costs only	Only documented expenses are deductible
Graubünden	Progressive flat deduction	Up to CHF 3.6 m: 2.5‰; above that: 1‰; capped at taxable income
Lucerne	Progressive flat deduction	Up to CHF 3 m: 0.3%; above that: 0.1%; capped at taxable income
Aargau	Flat deduction	3‰ of portfolio value at year-end; performance-based fees not deductible
Bern	Actual costs only	No flat-rate deduction; only proven costs accepted

Further information:
You can find up-to-date details and current tax rates in the official cantonal tax guides or compare them using public calculators.

Deductible and non-deductible wealth management costs

Deductible:

• Custody and safe deposit fees (for securities)
• Collection fees (interest/dividends)
• Management costs charged by third parties (e.g. banks)
• Negative interest on bank deposits
• Non-reclaimable foreign withholding tax
  

Not deductible:

• Purchase or production costs of securities
• Capital improvement expenses
• Transaction costs (brokerage, issue tax, etc.)
• Financial, investment, inheritance, pension, or tax advisory costs
• Fees for completing your tax return
  
  
  

FIN: Your independent partner for financial clarity

Looking for advice that brings clarity instead of complexity — with a focus on transparency and independence?

FIN is your independent financial partner, providing personal guidance and transparent support. We stand for clarity, simple language, understandable solutions, and real partnership – from your first investment to long-term financial and retirement planning.

With FIN as your single point of contact for all financial matters, you benefit from:

• Tailor-made solutions
• Transparent pricing
• A service-oriented, independent advisory culture

Further Information & Official Guidelines by Canton

• Zurich Wealth Tax Guidelines
• Thurgau Wealth Tax Guidelines
• Zug Wealth Tax Guidelines
• Schwyz Wealth Tax Guidelines
• Basel-Stadt Wealth Tax Guidelines
• St. Gallen Wealth Tax Guidelines
• Graubünden Wealth Tax Guidelines
• Luzern Wealth Tax Guidelines
• Aargau Wealth Tax Guidelines
• Bern Wealth Tax Guidelines

FIN – Independent financial advice that truly moves you forward.